Hexcel Corporation (NYSE and Euronext Paris: HXL) announces today that following a comprehensive review of the trading volume, costs and administrative requirements related to its dual-listing of its common stock on Euronext Paris, Hexcel requested the delisting of its shares (ISIN US4282911084) from Euronext Paris. This request has received approval from the Board of Directors of Euronext Paris SA.
Following the delisting from Euronext Paris, the HXL shares will remain traded on the New York Stock Exchange (NYSE), HXL’s primary listing exchange.
In connection with the delisting from Euronext Paris, a voluntary sales facility procedure on the NYSE will be provided by Hexcel to its stockholders holding their HXL shares under Euroclear France (the “Euronext Stockholders”) during which such Euronext Stockholders will have the following options:
- Sell their shares by participating in the sales facility described below in order to effect the sale of all or a portion of their HXL shares on the NYSE.
- Retain their shares which they will be able to trade on Euronext Paris through and including the trading day prior to the delisting date and only on the NYSE thereafter.
Euronext Stockholders wishing to sell their shares on the NYSE via the sales facility should ask their financial intermediary to deliver their HXL shares between and including June 25, 2019 to July 8, 2019 to Société Générale. Société Générale will be acting as the centralizing agent appointed by Hexcel for the sales facility, following the procedure described in a Euronext notice, which was published on June 21, 2019.
The HXL shares tendered to Société Générale will be sold beginning July 16, 2019 on the NYSE at the market price prevailing at the time of the sale. Société Générale will calculate the average sale price of the HXL shares and will transfer the sale proceeds to the tendering Euronext Stockholders once it receives the funds. The brokerage fee related to the sale of the HXL shares on the NYSE will be borne by Hexcel.
Euronext Stockholders are reminded that they may tender their shares in this sales facility on a voluntary basis. If they decide not to tender their shares, they remain entitled to sell all or part of their shares at any time, or keep them, under the terms and conditions applicable by their custodian.
Quelle: Hexcel
